Bitcoin Flashes Mega Bullish Signal, Tone Vays Explains

Bitcoin price has been seeing a few corrections lately, but now it seems to be on the excellent track to recovery.

Despite all these corrections, the bullish price predictions did not stop flooding the crypto space.

While some investors freaked out at the price drops, more crypto enthusiasts knew that it was the best time to accumulate crypto at a discount.

It’s been just revealed that the veteran trader Tone Vays says one Bitcoin (BTC) indicator that historically leads to crypto rallies just started flashing bullish signals.

He recently explained that the momentum reversal indicator (MRI), a signal that predicts the end of a trend based on price momentum, just showed up.

“I don’t have much bad news for you, the bad news took place in the prior two months. This is great news. Look, you have a weekly MRI buy. This is something we have not had in a long time, and they don’t come around that often.”

The online publication the Daily Hodl mentioned that the last times Vays saw this signal flash was in March 2021 and November 2020.

Based on the MRI signaling rallies on the horizon, Vays made sure to explain the fact that he’s still bullish on BTC.

“I personally believe we are going to rally back into the triangle by the time this month is over. Can we go down to $35K before that? It’s possible. But I’m literally bullish right now.”

He also said this:

“Can it dip further? Yeah, of course, it can dip further. It could dip down to $20,000. But it’s all about probability.”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $42,146.

Bitcoin was recently also compared to Amazon – Raoul Pal was looking at the historical price action of e-commerce titan Amazon and comparing it to the performance of Bitcoin (BTC) since 2013.